Question

Write a program to input the sum. Calculate and display the compound interest in 3 years, when the rates for the successive years are r1%, r2% and r3% respectively.

Hint: `["A" = "P" "*" (1 + ("r"1)/100) "*" (1 + ("r"2)/100) "*" (1 + ("r"3)/100), "CI" = "A" − "P"]` 

Answer 1

import java.util.*;
public class KboatCompoundlnterest
{
    public static void main(String args[]) 
    {
        Scanner in = new Scanner(System.in); 

        System.out.print("Enter principal: "); 
        double p = in.nextDouble(); 

        System.out.print("Enter interest rate for 1st year: ");
        float r1 = in.nextFloat();
        System.out.print("Enter interest rate for 2nd year: ");
        float r2 = in.nextFloat();
        System.out.print("Enter interest rate for 3rd year: "); 
        float r3 = in.nextFloat();

        double amt = p * (1 + (r1 / 100))
                       * (1 + (r2 / 100))
                       * (1 + (r3 / 100)); 
        double ci = amt − p;

        System.out.println("Amount after 3 years: Rs. " + amt);
        System.out.println("Compound Interest: Rs. " + ci); 
    }
}